Millennials a good long-term bet for homeownership from Elaine Golden-Gealer

Elaine Golden Gealer, Brentwood condos, Brentwood townhomes, Brentwood real estate, Brentwood new construction, Brentwood condominiums, Westwood condos, Westwood townhomes, Westwood real estate, Westwood new construction, Westwood condominiums, Westchester condos, Westchester townhomes, Westchester real estate, Westchester construction, Westchester condominiums, Toluca Lake condos, Toluca Lake townhomes, Toluca Lake real estate, Toluca Lake construction, Toluca Lake condominiums, North Hollywood condos, North Hollywood townhomes, North Hollywood real estate, North Hollywood new construction, North Hollywood condominiums, Sherman Oaks condos, Sherman Oaks townhomes, Sherman Oaks real estate, Sherman Oaks new construction, Sherman Oaks condominiums, Encino condos, Encino townhomes, Encino real estate, Encino new construction, Encino condominiums, Beverly Hills condos, Beverly Hills townhomes, Beverly Hills real estate, Beverly Hills new construction, Beverly Hills condominiums, West Los Angeles condos, West Los Angeles townhomes, West Los Angeles real estate, West Los Angeles new construction, West Los Angeles condominiums, West Hollywood condos, West Hollywood townhomes, West Hollywood real estate, West Hollywood new construction, West Hollywood condominiums, Santa Monica condos, Santa Monica townhomes, Santa Monica, real estate, Santa Monica new construction, Santa Monica condominiums, San Fernando Valley condos, San Fernando Valley townhomes, San Fernando Valley real estate, San Fernando Valley new construction, San Fernando Valley condominiums.Education may be a double-edged sword to millennials saddled with student loan debt, but over the long term that education will help them fulfill their dreams of homeownership, according to about a dozen economists and housing analysts interviewed by Bloomberg.

Nearly 45 percent of 25-year-olds had student debt at the end of 2013, up from 25 percent in 2003, and their average loan balance was $20,926, the news outlet said. Meanwhile, 90 percent of renters under the age of 39 said in the fourth quarter that they want to buy a home eventually, according to a Fannie Mae survey.

Economists predict that millennials (often described as those born in 1980 or later) will boost their purchasing power in the next two to five years as the labor market improves and their investment in education starts to pay off.

“Given the Great Recession and the slow recovery, millennials have faced very difficult economic circumstances,” Richard Fry, a senior economist at the Pew Research Center in Washington, told Bloomberg.

“But they have a very significant tailwind. They are more educated than any generation before them. All of those college degrees will sooner or later pay dividends and they will buy homes.”

Elaine                                                     
DRE #00598428
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed

“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”

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